Embassy Developments Limited · NSE:EMBDL
Embassy Developments — Indiabulls Real Estate — Morgan Stanley 15th Annual Asia Pacific Summit 2016
33 slides from Embassy Developments's conference presentation, Nov 18, 2016
Slide 1: Disclosure under Regulation 30 of SEBI Regulations
Date: November 18, 2016 Scrip Code - 532832 IREALEST/EQ BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, “Exchange Plaza”, Dalal Street, Bandra-Kurla Complex, MUMBAI – 400 001 Bandra (East), MUMBAI – 400 051 Subject: Disclosure under Regulation 30 of the SEBI (Listing
Slide 2: Indiabulls Real Estate Limited Investor Presentation
Indiabulls Real Estate Limited Investor Presentation
Slide 3: Contents
Contents Pg. No. 1. Overview 3 2. Macro & Industry Outlook 7 3. Business Update 11 4. Project Overview 19 2
Slide 4: Overview
REAL ERB TAT E Overview
Slide 5: Indiabulls Group Companies
Indiabulls Group Companies Indiabulls Group (Market Capitalisation Rs 391,000 Mn)* Indiabulls Indiabulls Indiabulls Housing Finance Real Estate Ventures • India’s second largest • National developer with • Offers retail non- mortgage finance in focus on Mumbai, NCR discretionary wealth private secto
Slide 6: IBREL Journey
IBREL Journey 2016-17 IBREL increased stake to 54.95% from 47.51% in Indiabulls Properties Investment Trust (IPIT) Rating reaffirmed by CARE and 2015-16 Brickworks International rating reaffirmed by Fitch and Moody’s Rs 538 Cr equity infusion by the Founder 2014-15 Buy back of international
Slide 7: IBREL – One of India's leading real estate player
IBREL – One of India’s leading real estate player Different Buckets of Value A B C D Ongoing projects Planned projects Land bank IPIT 15 projects in India with total 4 new projects to be launched - Fully paid land bank of 1,010 54.95% stake in Indiabulls saleable area of 35.78 m sq ft total
Slide 8: Macro and Industry Outlook
R EAL Macro and Industry Outlook
Slide 9: Structural Drivers for Housing
Structural Drivers for Housing Favorable 66% of India’s population is below 35 years of age. Urban Demographics housing requirement estimated to grow to 45 million units by 2022 Accelerating Urbanisation to rise to 40% of population by 2030 from the Urbanization present 31% Improving Rising disposab
Slide 10: Accelerators for Housing
Accelerators for Housing Regulator Real Estate (Regulatory & Development) Act, 2016 will lead to a structured, transparent and disciplined sector Budget 2016-17 100% tax exemption on profits from construction of affordable housing will attract organized developers and increase supply Tax Incentives
Slide 11: Industry Outlook
Industry Outlook • Commercial: o Office space demand in the first half of CY 2016 grew by 12%5 y-o-y across top 6 Indian Cities o Office Space Vacancy hits 5 year low6 • Residential: o Interest cycle that peaked 2014 and have since then trending downward (Benchmark rates cut by 150 bps) 1 o Strong P
Slide 12: Business Update
R EAL Business Update 11
Slide 13: IBREL – Assets Overview
IBREL – Assets Overview Rental Business HIFY17 Annualized FY16 Annuity Leasable Area Annuity Revenue Property % Leased Revenue (Mn. sq. ft.) (Rs. Mn) (Rs. Mn) Indiabulls Finance Centre and One 3.3 89% 4,870 5,200 Indiabulls Centre Annualized annuity revenue based on current leasing agreements starti
Slide 14: Rental Assets – IPIT
Rental Assets – IPIT • Key Assets – 3.3 million sft in the heart of Mumbai – One Indiabulls Centre & Indiabulls Finance Centre • Stable Annuity Earnings • 89% occupancy in FY 2016 • Rental Reset Clause – every 3 yrs Rs. Mn Net Worth 15,890 Net Debt 28,240 Rental Receipts for H1FY17 2,600 Annualized
Slide 15: Development Assets
Development Assets • PAT Rs 3,390 Mn in FY 2016 - 29% CAGR. Net debt reduced by Rs 8,630 Mn. • Marquee projects across key geographies in India • 44.6m sqft under construction and already planned, with potential net surplus cash flows of Rs 267,660 Mn. Rs. Mn 3,390 2,950 2,710 Net Worth 33,070 2,030
Slide 16: Snapshot – Completed Projects
Snapshot – Completed Projects Area Project Location Type (m sq ft) IBREL Completed Projects Centrum, Madurai Madurai Residential (Mid Income) 0.16 Centrum Park, Gurgaon NCR Residential (Mid Income) 0.48 Mint, Thane Mumbai Commercial 0.06 Indiabulls Greens, Chennai Chennai Residential (Mid Income) 0.
Slide 17: Ongoing Projects Summary
Ongoing Projects Summary Gross Pending Pending Handover Area Development % Area Collections Construction Net Surplus Expected in Project Location (Mn. sq. ft.) Value (GDV) Sold from Area Sold Cost (Rs. Mn) Next 4 to 5 (Rs. Mn) (Rs. Mn) (Rs. Mn) Quarters Blu Estate & Club, Worli Mumbai 1.73 88,040 60
Slide 18: Planned projects & Other Fully Paid Land Assets
Planned projects & Other Fully Paid Land Assets Planned Projects Gross Pending Area Development Construction Net Surplus Project Location (Mn. sq. ft.) Value (GDV) Cost (Rs. Mn) (Rs. Mn) (Rs. Mn) Indiabulls Imperial, Gurgaon (Sec 106) NCR 6.98 54,330 18,430 35,900 Silverlake Villas, Alibaug Mumbai 0
Slide 19: Operating Performance
Operating Performance • International rating reaffirmed by Fitch and Moody’s • Rating reaffirmed AA- for long term debt and A1+ for short term debt by CARE and Brickworks Rating Agency Long Term Rating Short Term Rating Fitch B+ Moody’s B1 CARE Ratings AA- A1+ Brickwork Ratings AA- A1+ 18
Slide 20: Project Overview
R EAL Project Overview 19
Slide 21: Completed Projects
Completed Projects One Indiabulls Centre – Mumbai Indiabulls Finance Centre – Mumbai (16.5 lac sft) (15.6 lac sft) 20
Slide 22: Completed Projects (Contd.)
Completed Projects (Contd.) Indiabulls Centrum – Madurai (1.6 lac sft) Sky 882, Lower Parel Indiabulls Centrum Park – Gurgaon Phase 1 (4 lac sft) (4.8 lac sft) 21
Slide 23: Blu Estate & Club, Worli
Blu Estate & Club, Worli Location Worli, Mumbai Total area (Acres) 10.0 Estimated total saleable area 1.73 (m sq.ft.) Estimated total units 345 • 10 acre development in the Heart of South Mumbai (Worli) Project USP • 1/10th Density amongst peers (33 Apartments per Acre). • No Public Parking or Slum
Slide 24: Indiabulls, Panvel
Indiabulls, Panvel Location Panvel, Navi Mumbai Total area (Acres) 52.3 Estimated total saleable area (m sq.ft.) 8.73 Estimated total units 6,701 • Access from NH4, Mumbai- Pune Expressway, proposed CIDCO Multi-Modal corridor Project USP • Close proximity to Proposed International Airport, Proposed
Slide 25: Indiabulls Golf City, Savroli
Indiabulls Golf City, Savroli Location Savroli, Navi Mumbai Total area (Acres) 110.0 Estimated total saleable area (m 5.39 sq.ft.) Estimated total units 4,016 • 18-hole Golf course with direct connectivity from Mumbai- Project USP Lonavala expressway • Adjacent to CIDCO 10,000 acres “Khalapur Smart
Slide 26: Enigma, Gurgaon
Enigma, Gurgaon Location Gurgaon (Sector 110) Total area (Acres) 19.9 Estimated total area (m sq.ft.) 1.76 Estimated total units 479 • Direct access from the expressway Project USP • Premium apartments with Lowest density (450 apartments) Project location 17.6 lac sqft 25
Slide 27: Indiabulls Greens, Chennai
Indiabulls Greens, Chennai Location Chennai Total area (Acres) 15.9 Estimated total saleable area (m sq.ft.) 2.07 Estimated total units 1,611 Located on the OMR belt, in Project USP close proximity to the IT hub Project location Tidel Park American 20.7 lac sqft School IT - Chennai Vijaynagar Bus Ch
Slide 28: One Indiabulls, Gurgaon
One Indiabulls, Gurgaon Location Gurgaon (Sector 104) Total area (Acres) 34.0 Estimated total saleable area (m 6.15 sq.ft.) Estimated total units 2,000 • Access from Dwarka Expressway (NH), 10 mins to International airport , 6 Kms Project USP from Delhi and Diplomatic Enclave Project location • Affo
Slide 29: Sky Forest, Lower Parel
Sky Forest, Lower Parel Location Lower Parel, Mumbai Total area (Acres) (mixed use 9.7 development) Estimated total saleable area (m 1.50 sq.ft.) Estimated total units 442 • Located in Parel SBD, on the Golden mile, beautified by IBREL. • Duplex Sky Villas with uninterrupted views of Mumbai Project
Slide 30: Sky Suites, Lower Parel
Sky Suites, Lower Parel Location Lower Parel, Mumbai Total area (Acres) (mixed use 7.8 development) Estimated total saleable area (m 1.40 sq.ft.) Estimated total units 279 • Located in Parel SBD, on the Golden mile, beautified by IBREL. • Simplex and Duplex Project USP apartments with uninterrupted
Slide 31: Planned launch – Thane
Planned launch – Thane Project details • Residential Project in the Heart of Thane, with direct access from Eastern Expressway • Net development area of 7.22 acres • The total saleable area of the project is 1.40 m sq ft. • The project has GDV of about Rs. 1,680Cr 14 lac sqft Project location 30
Slide 32: Planned launch – 22 Hanover Square, London
Planned launch – 22 Hanover Square, London Located in Mayfair, an area bounded by Piccadilly, Park Lane, Oxford Street and Regent Street, in London’s West End is one of the world’s most exclusive business, residential and leisure districts. Acquired in July 2014 from the Scottish Widows Investment P
Slide 33: Thank you
REAL ESTATE Thank you 32
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